Find Affordable Mazda 5 Insurance in San Antonio

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Purchasing the lowest cost San Antonio Mazda 5 insurance quotes can appear to be overwhelming for vehicle owners that are relatively new to comparing rates over the internet. Because there are so many insurers to choose from, how can San Antonio drivers have time to compare every insurance company to find the best price?

Discount Mazda 5 insuranceIt's hard to believe, but most drivers kept their coverage with the same insurance company for over three years, and nearly 40% of drivers have never quoted rates to find cheap coverage. Consumers in Texas can save hundreds of dollars each year just by comparing rates, but they mistakenly think it's difficult to save money by comparing rate quotes.

It's important to do price comparisons before your policy renews since prices fluctuate regularly. Just because you had the best rate on Mazda 5 insurance in San Antonio six months ago there may be better deals available now. Don't believe everything you read about 5 insurance out there, but by reading this article, you're going to learn some great ideas on how to lower your insurance bill.

If you have a current auto insurance policy, you should be able to buy cheaper auto insurance using this information. This article's goal is to help educate you on how auto insurance companies operate and some money-saving tips. But Texas consumers do need to understand how big insurance companies determine how much to charge.

Many insurance companies allow you to get pricing on their websites. Getting quotes for Mazda 5 insurance in San Antonio doesn't take a lot of time because it's just a matter of typing in your personal and coverage information into a form. Upon sending the form, the quote system requests your driving and credit reports and returns a price determined by many factors.

Getting online rates for Mazda 5 insurance in San Antonio simplifies rate comparisons, and it's also necessary to do this if you are searching for the lowest payment on car insurance.

To quickly find out if lower rates are available, compare rates now from the companies shown below. To compare your current rates, we recommend you copy the insurance coverages as close as possible to your current policy. This guarantees you will receive a rate comparison based on similar coverages.

The companies shown below can provide quotes in San Antonio, TX. If several companies are displayed, it's a good idea that you visit several of them to get the lowest price.

Mazda 5 coverage analysis

The premium table shown next covers estimates of insurance policy prices for Mazda 5 models. Having a better understanding of how auto insurance policy rates are calculated can be of help when making informed purchases.

Mazda 5 Insurance Rates in San Antonio, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
5 Sport Station Wagon $204 $378 $392 $24 $118 $1,116 $93
5 Touring Station Wagon $234 $460 $392 $24 $118 $1,228 $102
5 Grand Touring Station Wagon $234 $460 $392 $24 $118 $1,228 $102
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Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Premium amounts do not factor in specific location which can modify rates considerably.

An analysis of deductible level

When buying insurance, a common question is the level to set your comp and collision deductibles. The following tables approximate the differences in premium rates between low and high physical damage deductibles. The first data set uses a $250 deductible for comp and collision and the second rate chart uses a $500 deductible.

Mazda 5 insurance policy rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
5 Sport Station Wagon $256 $408 $324 $20 $96 $1,129 $94
5 Touring Station Wagon $294 $496 $324 $20 $96 $1,255 $105
5 Grand Touring Station Wagon $294 $496 $324 $20 $96 $1,255 $105
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Mazda 5 insurance policy rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
5 Sport Station Wagon $208 $328 $324 $20 $96 $976 $81
5 Touring Station Wagon $240 $400 $324 $20 $96 $1,080 $90
5 Grand Touring Station Wagon $240 $400 $324 $20 $96 $1,080 $90
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Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, multi-vehicle, and claim-free. Premium amounts do not factor in vehicle garaging location which can impact rates greatly.

Based on these figures, using a $250 deductible costs roughly $14 more each month or $168 each year across all Mazda 5 models than opting for the higher $500 deductible. Because you would be required to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you average at least 18 months between claims, you would more than likely save some money if you choose a higher deductible. Here is an example of how this calculation is made.

Average monthly premium for $250 deductibles: $101
Average monthly premium for $500 deductibles (subtract): - $87
Monthly savings from raising deductible: $14
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $14
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 18 months

One thing to note is that a higher deductible level means you pay more out-of-pocket when you file a claim. That will force you to have enough money in the bank in the event you need to pay the deductible for vehicle repair.

Should you buy full coverage?

The information below visualizes the comparison of Mazda 5 insurance prices when comparing full coverage to liability only. The premiums assume no driving violations, no at-fault accidents, $1,000 deductibles, single status, and no other discounts are factored in.

Guidelines for eliminating full coverage

There is no definitive rule to drop comp and collision coverage, but there is a general school of thought. If the yearly cost of comp and collision coverage is 10% or more of any settlement you would receive from your insurance company, then it might be time to buy liability only.

For example, let's pretend your Mazda 5 settlement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $4,000 after paying your deductible. If premiums are more than $400 annually for physical damage coverage, then you may want to consider only buying liability coverage.

There are some cases where dropping full coverage is not recommended. If you haven't satisfied your loan, you have to carry full coverage in order to keep the loan. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should not eliminate full coverage.

Why Your Insurance Prices might be higher

Part of the insurance buying process is learning some of the factors that play a part in calculating your insurance rates. When you know what positively or negatively determines premiums, this allows you to make good choices that may reward you with lower rates.

  • Prices are impacted by vehicle performance - The make and model of the car you are insuring makes a substantial difference in your car insurance bill. Low performance passenger cars generally have the cheapest insurance rates, but that's not the only thing that factors into the final price.

    The chart below uses these assumptions: single female driver age 50, full coverage with $250 deductibles, and no discounts or violations. It shows Mazda 5 rates compared to other makes and models that have a range of performance rating factors.

  • Higher insurance rates for insurance policy lapses - Not having insurance can get you a ticket and companies may charge more for letting your coverage cancel without a new policy in place. In addition to paying higher premiums, failure to provide proof of insurance could earn you fines and jail time.
  • Only buy what you need - Insurance companies have many additional coverages that you can get tricked into buying when buying insurance. Coverages for rental car reimbursement, accidental death, and Farm Bureau memberships may be wasting your money. The coverages may be enticing when you first buy your policy, but if you've never needed them in the past consider taking them off your policy.
  • How's your driving record? - Your driving citation history influences premium rates substantially. Having a single ticket can increase rates twenty percent or more. Drivers with clean records receive lower rates compared to bad drivers. Drivers unfortunate enough to have flagrant violations like DUI, reckless driving or excessive speeding may need to maintain a SR-22 with their state DMV in order to legally drive.

    The information below demonstrates how traffic citations and accidents influence Mazda 5 insurance premiums for each different age category. The costs are based on a single male driver, full physical damage coverage, $100 deductibles, and no additional discounts are factored in.

  • Safer vehicles means better prices - Vehicles with high crash test scores cost less to insure. Highly rated vehicles have better occupant injury protection and reduced instances of injuries means your insurance company pays less and more competitive rates for policyholders.
  • Mazda 5 insurance loss data - Companies analyze the history of losses when they calculate premium costs for each model. Vehicles that the data determines to have higher claim frequency or loss amount will cost more to insure.

    The table below outlines the insurance loss data used by companies for Mazda 5 vehicles. For each coverage category, the statistical loss for all vehicles, regardless of make, model or trim level, equals 100. Numbers shown that are under 100 are indicative of better than average losses, while values that are above 100 point to more claims or a tendency for losses to be larger than average.

    Mazda 5 Insurance Loss Statistics
    Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Mazda 5 86 86 73 103 95 91
    BETTER
    AVERAGE
    WORSE

    Statistics from IIHS.org for 2013-2015 Model Years

Why you need insurance

Even though San Antonio 5 insurance rates can get expensive, insurance is required in Texas but also provides important benefits.

  • Just about all states have minimum mandated liability insurance limits which means the state requires specific limits of liability protection if you don't want to risk a ticket. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
  • If you bought your Mazda with a loan, most banks will require you to buy insurance to guarantee their interest in the vehicle. If you cancel or allow the policy to lapse, the bank or lender will purchase a policy for your Mazda at a significantly higher premium and force you to pay for the expensive policy.
  • Insurance protects both your assets and your Mazda 5. It also can pay for many types of medical costs incurred in an accident. Liability insurance will also pay to defend you if you are named as a defendant in an auto accident. If mother nature or an accident damages your car, comprehensive and/or collision insurance will pay to have it repaired.

The benefits of insuring your 5 greatly outweigh the cost, especially when you need to use it. But the average American driver is overpaying over $825 a year so you should quote and compare rates at every policy renewal to save money.